Retirees Look for Land for Sale in Panama

Ralph Smith of FedSmith.com penned an article this week entitled “Are you Part of the Retirement Tsunami? Where Will You Retire?”.

Smith points out that many U.S. retirees will be unable to afford the lifestyle that they had once envisioned. Many retirees are looking outside of the U.S., particularly to Panama, for a variety of reasons, including:

• Mild weather
• Low taxes (no property taxes for 20 years)
• Affordable cost of living
• Affordable medical costs at world-renown hospitals like Johns Hopkins
• Affordable property
• Discounts on a variety of different goods and services
• English is widely spoken

Many have questioned the standard of living in Panama. The costs of living are lower and the country moves at a slower pace than that of the United States. Foreigners looking to retire or relocate to Panama should spend a few weeks in Panama before committing to living and should employ an attorney prior to property transactions.

Interested in investment opportunities or land in Panama? Visit Panama-Land-for-Sale.com to see property listings and real estate for sale in Panama City and outer-lying areas. Click here for more information.

Martinelli Good for Business, Development in Panama

According to La Estrella, new President-elect, Ricardo Martinelli could be good for business in Panama…..

According to an article published in the Tico Times by Leland Baxter-Neal, foreign analysts believe Martinelli will be good for encouraging business in Panama. Martinelli has significant business experience and proven ability as an experienced business manager and negotiator. In addition to owning a chain of highly successful supermarkets, Martinelli has also worked in government. He has held positions as the Chariman of the Board of Directors of the Panama Canal Authority; Panama Canal Minister; and Director of Panama’s Social Security Administration.

While a global recession has slowed down many of the world’s economies, Panama remains somewhat stable. Although it has slowed slightly, Panama’s predicted GDP growth in 2009 is still predicted at 3%, one of few countries to be in positive growth.

Martinelli is expected to be popular among businesses and U.S. retirees and those relocating for business. Martinelli has also claimed that once in office, he will cut corporate taxes, implement a flat tax system, invest in tourism, and plans to fight legislation encouraging further transparency and legislation for the company’s banking industry……

Interested in retiring or relocating to Panama? Visit Panama-Land-for-Sale.com to see real estate for sale in and outside of Panama City, Panama! View condos, land, and businesses for sale in Panama – Click here for more information.

New Panamian President-Elect to Affect Local Real Estate

Those living and investing in Panama are learning more about the new president-elect, Ricardo Martinelli.

The 57-year old, self-made mulimillionaire is one of Panama’s richest men. The son of Italian immigrants and educated in the U.S., Martinelli owns Panamana’s largest supermarket chain, Super 99 and also has interests in Panamanian banking, real estate, sugar, and hydroelectric energy.

Martinelli formerly served as the former government minister of Panama Canal affairs. He also ran in 2004, capturing only 5.3% of the vote – a far cry from the sweep of this year’s self-financed campaign against Balbina Herrera.

Martinelli’s campaign platform was based on points including:

- foreign investors for tourism projects including cruise ports and airports
- more government spending on public infrastructure
- maintaining a close relationship with the U.S.
- fiscal discipline and anti-corruption

Yesterday, Martinelli announced 14 cabinet ministers. He will take office on July 1st.

Moving or relocating to Panama? Check out Panamanian real estate at Panama-land-for-sale.com. See properties, land, condos and businesses for sale in and outside of Panama! Click here for more information.

Commercial Property Next Investment in Panama?

Panama’s real estate market has seen many ups in recent years. The country has braced for real estate to be affected by the U.S. recession and has instead begun to court foreign investors.

Currently, the Panama Canal expansion represents a quarter of the country’s GDP. The $5.2 billion project, which is widening the Canal to accommodate larger cargo ships through the waterway, is expected to increase overall global trade. Along with the 7,000 jobs that the expansion has created, have been high-priced condominiums and an upward trend in the economy.

Because of the privatization of telecommunications and electricity privatization in recent years, there has been significant growth in business sectors over the past five years.

An April 7th article by Real Estate News & Information, stated that there is “A New Option for Real Estate in Panama”, claiming that “commercial office space in Panama is now passing its premium time”. It is expected that foreign investment will increase over the next five years, and with incentives to relocating companies, commercial real estate prices will go up. The source predicts that properties for warehouses and call centers will provide long-term value. Click here to read about Panama real estate futures.

Interested in a property in Panama? Visit Panama-Land-for-Sale.com to see land and other real estate listed for sale. Use our site as a resource for moving or relocating to Panama…Click here for more information.

Panama Development to Recruit International Companies

Panama is making the move to attract multinationals in 2009….

Panama’s Law 41 was designed in order to encourage international companies to use Panama as an international business hub. Among the benefits are tax incentives and visa assistance that encourage foreign investment in the country. Additionally, the country’s central location, a stable economy, international banking benefits, and an elaborate telecommunications infrastructure boast business advantages for companies.

Law 41 was enacted in August of 2007 as a joint effort between the private sector and government agencies. As a result of promotion and international marketing campaigns, over 17 global businesses have moved to Panama, including Procter and Gamble, Caterpillar, Roche, Merck, Peugeot, Hyundai Heavy Industries, and Western Union.

The Panamanian Ministry of Commerce and Industry (MICI) claims that Law 41, since enacted, has provided over 500 new jobs to the country. The country expects an additional 25 countries to move operations to Panama.

The country is optimistic as the U.S. recession affects countries around the world. Those companies interested in taking advantage of Law 41 must have fixed assets worth at least $200 million and must present financial statements, bank references and insurance policies before taking advantage of the perks.

Looking to relocate to Panama or invest in real estate? Visit Panama-Land-For-Sale.com to see land, condos, and businesses for sale in Panama City, Panama! Click here for more information about buying land in Panama…

Panama Real Estate - A Realistic Approach

The increase of those investing and retiring to Panama has been stimulated by the number of Brits and North Americans that are attracted to the cost and quality of living. As the global recession becomes even more far-reaching, there are a number of international citizens that are now considering buying properties in Panama.

Panama continues to expect economic growth in 2009, much in part due to the $5 billion Panama Canal expansion, of which has made Panama an “economic powerhouse” for the past 5 years.

Here are some advantages, disadvantages and pieces of advice before moving or relocating to Panama:

ADVANTAGES:

• Panama offers both Pacific Ocean and Caribbean Ocean Properties
• There are lower-priced condos with Beach and mountain-views
• No legal restrictions for foreigners buying property: property is either “titled” or “right of possession” real estate
• A current Buyers market
• Mortgage brokers and banks willing to deal with international citizens

RISKS:

• Buying in Panama is different from buying in the UK or US
• Buyers should make themselves familiar with the area (topography, seasons, etc.)

ADVICE:

• Choose a lawyer that has relocated to Panama and ask for the total upfront cost
• Have documents translated from Spanish by an independent party

Interested in relocating or moving to Panama? Visit Panama-Land-for-Sale.com to see the land, condos and businesses for sale in Panama. Use our site as a resource to find property and learn about living in and outside Panama City, Panama!

Trump Gives Reasons for Panama as "Hottest Market"

Ivanka Trump was interviewed this week, calling Panama the “Hottest Market” in the world. Ivanka, the executive vice-president of development and acquisitions at U.S.-based Trump Organization is helping to spearhead a new project on Isla Saboga.

In her interview with the Latin Business Chronicle, Trump had the following to say about Panama:

• “ I have projects all over the world [and] have a unique sense of the global real estate climate and submarkets…with great conviction, [I can say that] Panama is one of the strongest, if not the strongest, real estate market. Our biggest problem is not having enough inventory. We only have a small percent of the building left”.
• “Given the global downturn, the fact that sales remain so robust is a testament to the product, the brand and Panama”.
• “It’s got a great government that really supports developers…I’m impressed with their forward thinking in bringing in new potential residents. I’m in New York and see an ‘escape to Panama’…I never saw that five years ago”.
• “Some of the tax incentives are incredibly luring to international [investors], especially as we in America are being taxed to the hilt”.
• “Panama is an exceptionally diverse and beautiful country, with an urban and well-established city in addition to gorgeous resort-type destinations.”
• “Panama is attracting [a] lot of baby boomers priced out of South Florida”.
• “We’ll be in Panama for many years after the Trump Ocean Club is ready.”

She claims that most of the buyers of Panamanian property are American, Canadian and Latin American.

Interested in buying property or businesses in Panama? Visit panama-land-for-sale.com to see our Panamanian listings in and outside of Panama City! Use panama-land-for-sale.com as a resource for relocating or retiring to Panama!

Business in Panama...

Are you thinking of moving to Panama?

Last week, the Panama Report’s Matt Landau published “5 Fun and Simple Panama Business Ideas”. Landau relocated from the U.S. to Panama several years ago and noticed that like many other developing areas, Panama’s economy is reliant on trade, banking and real estate. However, he believes the following industries would be profitable as well….

1. Bars in Casco Viejo that cater to a less affluent audience.
2. Water taxis that operate from Casco Viejo across the Bay of Panama.
3. A lingerie store.
4. A good Thai restaurant or other ethnic restaurant.
5. Historical tours of Panama catering to tourists.

Click here to read the reasoning behind these picks…..

Are you interested in moving or investing in Panama? Visit panama-land-for-sale.com as a guide to all things about Panama….Check out our incredible land deals and our properties for sale in Panama!

Resources Being Utilized to Make Panama Safer...

It was announced last week that the countries of Colombia, Mexico, Guatemala and Panama have formed an alliance against organized crime.

The countries have created an alliance of resources and intelligence in order to combat organized crime and drug trafficking, as the four countries are the main subjects in drug smuggling to the U.S.  The ultimate goal is for the Latin American countries to have a shared database that is connected to each country.

The leaders of the four countries met in Panama City in order to discuss drug smuggling and the cartels that enable the practice.  According to the AP, the countries “will share intelligence, strategies and technical information to fight criminal activities including drugs, human trafficking, money laundering and terrorism”. 

It is projected that the sharing of information will benefit each of the countries against drug smuggling operations and other criminal activity. 

Panama City, Panama is becoming a safer, international city.  Are you interested in relocating or retiring to Panama?  Visit panama-land-for-sale.com as a resource for information and properties for sale in Panama!

Property Development Expected to Continue in Panama

The UK’s Hot Property website recently reported about the advantages in owning property in Panama, claiming that the country could again show returns like in 2006.

Panama property offered spectacular growth in the property market from 2006 to 2008. In that time period, property prices were up 48%. In the back half of 2008 growth slowed slightly, but was still positive.

Significant growth is expected again in the near future as Panama is predicted to have long-term appeal to US residents. Currently, Trump Ocean Club condos are under construction and are slated for completion within five years. There is also another development under construction at one of the best Panamanian beaches Maria Chiquita Beach where one-bedroom condos are being sold starting at around $100k.

Are you looking for a land investment? Check out Panama!! Visit our website at panama-land-for-sale.com to see our beautiful, ocean-view properties for sale! Use our website as a resource for information about moving or relocating to Panama!!

Historical Panama Crossing - Ship Visiting Panama

It was announced this week that a Russian warship has traversed the Panama Canal for the first time in 60 years.

The Admiral Cabanenko, a 554-foot ship that is part of Russia’s Northern Fleet, entered the port of Colon on Friday. The ship is docked at Rodman, the former US naval base.

The move was seen as part of joint Russian-Venezuelan naval efforts. There were two days of joint exercises with Venezuelan navy vessels. The Russian Ambassador to Panama, Yevgeny Voronin called the exercise a “gesture of friendship” that was aimed at “honing its role in fighting terrorism and drug trafficking”. The Panamanian foreign minister, Samuel Lewis Navarro, commented “as we all know, the Panama Canal is open to all ships in the world”.

The ship’s crossing from the Atlantic to Pacific is the first time a Russian ship has crossed the Canal since WWII in 1944 when four Soviet submarines, that had been repaired, crossed the Panama Canal from the Atlantic to the Pacific. At that time, the Canal was under US control and
Russia and the US were allied in an anti-Nazi coalition.

The Admiral Cabanenko is expected to depart later on Tuesday. The Russian crew was expected to take part in soccer and volleyball competitions with the Panamanian navy in the meantime…..

Panama is an international city that attracts businesses and residents from around the world! Are you interested in visiting Panama – or relocating or retiring in Panama? Check out our site at panama-land-for-sale.com to see our properties for sale in Panama!

Panama Agreement to Solidify Incredible Growth

It was announced last week that the Panama Canal and the United States’ Miami Port have renewed and ratified a strategic alliance.

The alliance will boost international trade, according to the Panama Canal Authority administrator, Alberto Aleman Zubieta. The agreement was signed by Administrator Zubieta as well as the director of the Miami Port, Hill Johnson. The agreement is signed and ratified each year by both parties.

The Miami Port is an important ally of the Panama Canal. An international trade center, the Miami Port is the closest port to the canal. The agreement will allow for the continued placement of large cargo vessels. In 2007, the Miami Port received over 2 million tons of cargo from Panama. The two ports include operations of over 20 maritime companies that deliver to 100 countries and 250 international ports.

As the maritime industry experiences incredible growth, the alliance between the two organizations becomes increasingly important. The Panama Canal is slated to be finished in 2014, a $5.2 billion U.S. dollar project.

The growth in Panama is incredible! As the Panama Canal experiences expansion, so does Panama City! Check out the amazing property deals that we are offering at www.panama-land-for-sale.com. Our site is a resource for those interested in buying land, moving, relocating or retiring in Panama!

Panama Health Care - Positive to Land for Sale, Relocating, and Retiring

First Lady, Laura Bush, has commended Panama for joining a regional alliance for breast cancer awareness and research

Panama joins the alliance with the U.S., Brazil, Costa Rica and Mexico. The alliance will include sharing information with the University of Texas, the Susan G. Komen for the Cure, and MD Anderson Cancer Center. The alliance has been named the Partnership for Breast Cancer Awareness and Research of the Americas.

The First Lady spent two days in Panama, meeting with Vivian Fernandez de Torrijos, the First Lady of Panama.

The entire effort of the Partnership effort, announced by Mrs. Bush in July 2007, is to increase breast cancer detection and awareness, to produce clinical resources and research and to reduce related deaths to breast cancer. M.D. Anderson has taken the role of the Partnership’s head medical advisory.

The ceremony was held at the Ministry of Foreign Affairs in Panama City. The President of M.D. Anderson, Dr. John Mendelsohn, M.D., stated “We are pleased to have the opportunity to extend our work with the Partnership to Panama. Mrs. Fernandez de Torrijos is commended for her dedication and commitment to reducing breast cancer and her efforts to engage the Partnership for the benefit of women in Panama, across Latin America and around the world”.

This latest information is further sign of the superior medical care and attention to health care that has become a standard in our developing country of Panama. Visit our website at www.panama-land-for-sale.com to see information about living, retiring, or relocating to Panama!

Panamaian Growth up Over 8% for September

The Panama City government announced yesterday that Panama’s economic activity for September 2008 rose 8.24% compared to September 2007. Economic activity increased 9.24% from August 2007 and August 2008.

As countries around the world have felt the credit crisis affect their economies, many have been watching Panama’s impressive growth amid a possible global recession and liquidity crisis.

Regardless of the global economy, the Panamanian government expects total 2008 growth up over 9.5%. According to the comptroller’s office, the industries pushing the economy upward are construction, real estate, hotel and restaurants. Much of this growth was from an increase in the number of tourists, with a particular rise in European visitors.

Panama is growing by leaps and bounds! Called the “new Miami”, developers, residents, and retirees are all looking to take advantage of Panama’s thriving economic situation! Check out our site at www.panama-land-for-sale.com to read more information about moving or relocating to Panama!

Panama Growth to Be Helped by Brits

Ttglive.com, the UK’s travel website, announced this week that Panama expects to double the amount of UK visitors from 2007.

Among the highlights of the article that cite Panamanian growth:

• In 2007, 8,000 Britons visited Panama. Already in 2008, there have been 7,400 visitors.
• Panama’s tourism industry is the country’s #1 industry and has grown by 24% over the past year.
• Tax-free inducements are offered to hotel developers until 2015.
• There are 104 new hotel projects underway.
• Investment in real estate and hotels in Panama is more than in Central America and the Caribbean combined.
• 20% of properties at Nikki Beach have been pre-purchased by Brits.

View the entire article here.

The growth in Panama is absolutely amazing!! Visit our website or contact us for more information about moving, retiring, or relocating to Panama. Our website, www.panama-land-for-sale.com lists the properties we have for sale outside of Panama City.

Panama Banking Growth - Good for those Relocating

More reports emerged this week about the positive state of affairs in Panama and how the country has not been affected by the global financial crisis.

Gisela Vergara, who is the Panamanian minister of commerce and industry, spoke this week at a forum in Tokyo. She stated that Panama has experienced fewer losses due to its sufficient liquidity within the country’s banking system.

Panama is one of the largest financial centers of Latin America, but has no central bank. The economy is based on regional financial services, and has had growth of local and foreign savings following U.S. problems. Panamanian banks offer tax-free bank savings and low interest rates on bank loans. There is no sub-prime mortgage market in Panama, but much of the country’s economy is based on the United States.

Panamanian President Martin Torrijos claimed earlier in the year that the country is prepared to face the crisis. The expansion of the Canal has allowed for further economic expansion, and the country offers economic incentives to business and individuals looking to relocate to the country.

Check out our incredible land deals in Panama! Now is the time to move or retire in Panama and experience the international growth! Visit panama-land-for-sale.com to check out our properties and other facts about moving to Panama.

Celebrities Relocating to Panama...

It was reported last week that numerous celebrities and other internationals are gravitating to Panama due to its charm and affordability. Panama’s unique proximity to both the Caribbean and Pacific are factors in allowing fabulous weather and scenery….

The Caribbean properties, in places like Portobelo, are waterfront and mountainous. Portobelo is an ex-Spanish fortress town that has attracted many new residents. People are also fascinated by areas like Casco Viejo, the site of many scenes in the new James Bond flick, Quantum of Solace. Companies like Nikki Beach and Hard Rock also have plans for large-scale developments in the near future.

People are drawn to Panama due to the fact that it is incredibly affordable, has a stable economy and low crime rate, as well as over 300 sunny days a year. It is the fastest-growing economy in Latin America and the 2nd largest free-trade zone in the world, slated to launch thousands more jobs. Property inquiries are up 150% from this time last year….

We have properties for sale in Portobelo and surrounding areas! Visit our site at panama-land-for-sale.com to view facts and figures about Panama, about relocating or retiring in Panama, and our unbelievable land deals!!!

Panama Development - Diamond Exchange will add to Growth

It was announced on Sunday that the Panama Diamond Exchange will launch Friday, October 24th. The ceremony on Friday will include government ministers and international leaders of the diamond and jewelry industries.

Leaders slated to attend the opening ceremony include:

• Avi Paz – President of World Federation of Diamond Bourses (WFDB)
• Gaetano Cavalieri – President of The World Jewelry Confederation
• Eli Izhakoff – Chairman of World Diamond Council
• Jacob Banda – President of Diamond Dealers Club of New York
• Alex Popov – President of Moscow Diamond Exchange

The Panama Diamond Exchange is the first and only complex dedicated to gemstones and jewelry in Latin America. The new exchange will encourage the development of Panama as an international hub for diamonds. The Panamanian government plans to grant the exchange Free Zone status.

The new exchange will be located near the business center in Panama City, close to the main international airport. The facility will be a secure building that will house offices, showrooms, gem labs and banks. The Panama Diamond Exchange will be Latin America’s only member in the World Federation of Diamond Bourses.

The Diamond Exchange is among many exciting growth and development initiatives in Panama!!! Are you interested in retiring or relocating to Panama? Check out our Panama properties at www.panama-land-for-sale.com for more information about our land deals outside of Panama City!

Panama Canal Expansion Continues...

It was just announced that the Panama Canal expansion has justified a $400 million loan. Inter-American Development Bank will be handling the loan.

Panama Canal Authority administrator Alberto Aleman stated that the IDB loan approval demonstrates the confidence and security of the Panama Canal Authority’s expansion project “despite the world financial crisis”.

The Panama Canal Expansion project is a $5.25 billion construction project that is scheduled for completion in 2014. The project will include two additional locks that will double the 50-mile Canal’s capacity.

The Panama Canal is responsible for 5% of the world’s cargo shipping. The Panama Canal Authority is expected to borrow up to $2.3 billion from 2009-2011 for financing and continuation of the Canal expansion. The Canal will pay back loans through additional taxation of 3.5% for shipping tolls.

The Panama Canal expansion project is evidence of the growth here in Panama! If you are interested in moving or relocating to Panama, visit our site to see our special land deals in Panama! Go to www.panama-land-for-sale.com for more information about relocating!

Good Works in Panama

This week, The Boston Herald ran an inspiring story about Oylan Dong, a 17-year-old student in Cambridge, Massachusetts and the good works that she is doing in our adopted Panama…..

Dong began fulfilling a 20-hour community service requirement for high school graduation, and became passionate for Panama and its social development. Dong has made six trips to Panama within the last two years and has made incredible donations to the country of Panama.

Dong, assisted by a former US Embassy coordinator and both of her investment banking parents, has raised more than $35 thousand dollars in private donations to provide supplies for Casa Esperanza, a large children’s organization in Panama City, has helped to improve the infrastructure of the San Jose de Malambo – one of the largest orphanages in Panama, and has even purchased a home in the mountains outside Ciudad Del Nino, Panama for a family of seven that did not have a home prior to her help.

Dong’s work so inspired her, that she is now planning to focus on international affairs in college. She plans to return to Panama throughout her studies….click here to read the entire article.

Are you looking to move to Panama? Our website at www.panama-land-for-sale.com is a great resource to find out information about relocating to Panama, and lists our incredible land specials!